Sansiri unveils ‘aggressive’ plan for housing market

[snoop1130]

Sansiri unveils ‘aggressive’ plan for housing market

By The Nation

 

Uthai

 

Listed property firm Sansiri Plc plans to launch 16 new projects worth a combined Bt24 billion, 10 of them residential and together worth Bt13 billion.

 

The first six will be condominiums worth Bt11 billion, chief operating officer Uthai Uthaisangsuk said on Thursday.

 

He said the company’s ambitious goal is to be Thailand’s top developer of single-detached houses within three years and its No 3 developer of townhouses.

 

The plan is to build up a broad product portfolio to cater to all consumer segments and strengthen all of its housing brands with “industry-defying features and functions”, Uthai said.

 

Its Burasiri single-detached homes selling for between Bt8 million and Bt20 million will now include “the resort-style living experience of a true private sanctuary”, he said, with a feature called New Garden Connect that links interior to exterior.

 

Siri Place, a successful “best-in-class townhouse brand”, will be introduced in more locations to cater to younger purchasers and will now feature a Modern Loft design.

 

Uthai expressed confidence that Sansiri’s aggressive plan for the housing segment and its high service standards will generate sales of Bt15 billion, and, coupled with earnings from ownership transfers on new nine condominium projects, would boost its total revenue from ownership transfers to Bt32 billion by year’s end.

 

Source: https://www.nationthailand.com/business/30375212

 

-- © Copyright The Nation Thailand 2019-08-22

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[NCC1701A]

perhaps the graphic behind this gentleman is a projection of the future value of these properties.

Edited August 22, 2019 by NCC1701A

[trainman34014]

The country is awash with empty property of all kinds; so presumably they just want to build more of the same to stand empty with all the others !

[madmen]

1 hour ago, snoop1130 said:

Listed property firm Sansiri Plc plans to launch 16 new projects worth a combined Bt24 billion

but but the  barstool boys said the economy is in the toilet 

I guess this multi billion baht company did no research and just tossed a coin heads we build tails we don't

 

 

Edited August 22, 2019 by madmen

[HLover]

9 minutes ago, madmen said:

but but the  barstool boys said the economy is in the toilet 

Right next to their collective brains.

[tomazbodner]

11 hours ago, madmen said:

but but the  barstool boys said the economy is in the toilet 

I guess this multi billion baht company did no research and just tossed a coin heads we build tails we don't

 

 

What were they supposed to do? Lay off all their staff and stop developing? These things take years to complete, and I guess they're hoping things would turn around by then.

[MartiniMan]

Huge bubble dont pump it further we dont need more froth we need demolitions and property tax on derelict buildings to ensure the prices dont crash - who is gonna pay top dollar when the whole street is derelict and abandoned due to greed or the developer?

Cheap access to credit caused it and then the people miss out because no taxation on this crazy concept

We need zoning and codes to ensure building quality is up to standard and that should be focused with a green sustainable view in mind

If someone wants to build another condo next to one because he feels bullish its not enough - he must provide adequate parks and recreation for the people who will live there, what about schooling? What about transport? What materials will be used? Will they use Thai or import? Will they provide top labour or go to the cheapest bidder? Will they used skilled tradesmen or again blag it with cheapest labour options? All of this must be thought about by the property planning permission department and stop just letting people build anywhere they like it ruined the country

Now we have ghost towns and within the next decade it will be demolished - all that loss will be realised and there was zero tax on it so what does it matter right just roll it over into the next eye sore

The buildings are poor quality, built as fast as they can with no human rights to the workers its a total disgrace they need to go abroad and study an established economy as thailand is an emerging market and there are many reasons why it is emerging 

MTG Make Thailand Great

[teutonian]

On 8/27/2019 at 5:06 AM, Peterw42 said:

On 8/22/2019 at 3:20 PM, NCC1701A said:

perhaps the graphic behind this gentleman is a projection of the future value of these properties.

Owners in Phuket aren’t happy and mounting a class action suit against Sansiri PLC. regarding Baan Maikhao

Poor quality build and non stop “rectification” for their brand new flagship beachfront condominium isn’t sitting too well.  
 

it’s also been noted that Sansiri dumped remaining inventory at up to half price, leaving original owners investments way below water. 

owner complaints to the developer are met with ridiculously low offers of compensation, silence, or on one case criminal defamation suit for making complaints public. 
 

That seems to be the real truth behind this multi billion baht marketing machine.